- Been listed by City of Brisbane Investment Corporation
- 262 Adelaide Street is now at 100% occupancy
- Built in 1927, net lettable area of 2,237sqm
The boutique Brisbane CBD office has been listed following a major refurbishment program.
262 Adelaide Street is currently owned by the City of Brisbane Investment Corporation (CBIC) and enjoys a 100% occupancy rate.
The recently refurbished building is located in the CBD precinct near Central Station, Queens Street Mall and the Golden Triangle business precinct.
Kirsty Rourke, CBIC CEO, says during the refurbishment it was important to restore the building appropriately to reflect it’s unique heritage. Contemporary essentials such as accessibility and energy efficient credentials to suit tenants expectations were also vital during the refurbishment.
“With 262 Adelaide Street, CBIC was determined to preserve some of Brisbane’s CBD heritage, but we also needed to create spaces that suit how we work today,” Ms Rourke said.
Executive search and recruitment firm Blackroc, global architectural and consulting practice Woods Bagot and Greestreat eatery are the major occupiers of the building.
Peter Chapple from CBRE, who is part of the team facilitating the expressions of interest campaign, said the high-quality offices are designed to suit businesses from a range of industries, which he says is proven by the diverse current tenants.
He also remarks the heritage building – built in 1927 – represents a unique opportunity for investors.
“It offers investors a major point of difference in providing the type of character office space that many businesses are seeking without the capital expenditure requirements of other similar assets,” Mr Chapple says.
Jack Morrison, a fellow CBRE colleague of Mr Chapple, says the building is a strong lease performing asset, making it highly inciting for investors.
“At 100% occupancy, 262 Adelaide Street stands out as an exceptional leasing performer, with two-thirds of the building’s leases having been signed or reset in the past 12 months, despite challenging market conditions,” CBRE’s Mr Morrison said
The building has a net lettable area of 2,237sqm; 1,824sqm of office space with the remaining 413sqm being retail space, with opportunities to further refurbish the lower ground retail space. The expressions of interest campaign is scheduled to end late March.